Madison Asset Management LLC Buys New Stake in Liberty Media Corporation – Liberty Formula One Series A $FWONA

Madison Asset Management LLC bought a new stake in Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,419,211 shares of the company’s stock, valued at approximately $131,567,000. Liberty Media Corporation – Liberty Formula One Series A accounts for approximately 1.6% of Madison Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding.

A number of other large investors also recently added to or reduced their stakes in FWONA. The Manufacturers Life Insurance Company grew its stake in shares of Liberty Media Corporation – Liberty Formula One Series A by 9.5% in the first quarter. The Manufacturers Life Insurance Company now owns 159,804 shares of the company’s stock valued at $12,475,000 after buying an additional 13,908 shares in the last quarter. M&T Bank Corp lifted its stake in Liberty Media Corporation – Liberty Formula One Series A by 848.4% during the 4th quarter. M&T Bank Corp now owns 32,880 shares of the company’s stock worth $2,939,000 after acquiring an additional 29,413 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Liberty Media Corporation – Liberty Formula One Series A by 34.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,327,209 shares of the company’s stock worth $118,630,000 after acquiring an additional 337,607 shares in the last quarter. Deltroit Asset Management UK LLP acquired a new position in Liberty Media Corporation – Liberty Formula One Series A during the 4th quarter worth about $4,609,000. Finally, Gabelli Funds LLC boosted its holdings in Liberty Media Corporation – Liberty Formula One Series A by 13.8% during the 1st quarter. Gabelli Funds LLC now owns 147,700 shares of the company’s stock valued at $11,532,000 after acquiring an additional 17,950 shares during the period. 8.38% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Formula One Series A Trading Up 3.0%

Shares of NASDAQ FWONA opened at $96.00 on Thursday. The stock has a market cap of $24.05 billion, a P/E ratio of 141.18 and a beta of 0.49. The business’s fifty day simple moving average is $89.33 and its 200-day simple moving average is $83.50. Liberty Media Corporation – Liberty Formula One Series A has a 12-month low of $73.70 and a 12-month high of $99.52.

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ:FWONA) last released its earnings results on Thursday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.22). The company had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $954.37 million.

Insider Activity

In related news, Director Chase Carey sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $90.28, for a total transaction of $9,028,000.00. Following the sale, the director directly owned 94,356 shares in the company, valued at approximately $8,518,459.68. This represents a 51.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Renee L. Wilm sold 11,597 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $90.09, for a total transaction of $1,044,773.73. Following the sale, the insider owned 15,590 shares in the company, valued at $1,404,503.10. The trade was a 42.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research report on Wednesday, June 24th. Guggenheim increased their price target on shares of Liberty Media Corporation – Liberty Formula One Series A from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Zacks Research raised shares of Liberty Media Corporation – Liberty Formula One Series A from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Citizens Jmp restated a “market outperform” rating and issued a $120.00 price objective (up from $100.00) on shares of Liberty Media Corporation – Liberty Formula One Series A in a report on Thursday, July 2nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Liberty Media Corporation – Liberty Formula One Series A in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $114.67.

About Liberty Media Corporation – Liberty Formula One Series A

Liberty Media Corporation – Liberty Formula One Series A (NASDAQ: FWONA) is a tracking stock that represents Liberty Media’s economic interest in its Liberty Formula One Group business. The tracking stock is designed to give investors direct exposure to the performance of Formula One-related activities within the broader Liberty Media structure while Liberty Media remains the corporate parent. FWONA is a class A equity security tied specifically to the Formula One operations rather than to Liberty Media’s other media and entertainment holdings.

The Liberty Formula One Group owns and manages the commercial rights to the FIA Formula One World Championship and derives revenue from global media and broadcasting rights, sponsorship and advertising, race promotion and hospitality, licensing and merchandising, and digital content and distribution.